GSK_ Annual_Report_2021-22

GlaxoSmithKline Pharmaceuticals Limited | Annual Report 2021-22 Notes to the Standalone Financial Statements for the year ended March 31, 2022 138 Note 27 : Other current liabilities ( ` in lakhs) As at March 31, 2022 As at March 31, 2021 Statutory dues including provident fund and tax deducted at source (Refer Note (a) below) 353,23.62 61,92.30 Advance from Customers 4,34.74 4,90.96 Advance received towards disposal of Vemgal Assets (Refer Note (b) below) - 180,00.00 357,58.36 246,83.26 Note:- a) Statutory dues includes ` 295,77.67 lakhs payable towards indirect tax liability on sale of brands and other identified assets. b) During the previous year, the company had received money as advance towards disposal of Vemgal Assets consequent to the signing of a binding agreement to sell. Actual transfer was concluded in the current year after obtaining all relevant statutory and other approvals / consents / permissions as required by law (Refer Note 17). Note 28 : Current provisions ( ` in lakhs) As at March 31, 2022 As at March 31, 2021 For employee benefits (Refer Note 41) Leave encashment and compensated absences 4,16.75 4,11.44 Post retirement medical and other benefits 3,41.99 3,36.01 For long term incentive plan (Refer Note 29 and 54) 5,81.58 10,18.81 For expected sales returns (Refer Note 29) 91,83.75 72,87.28 For others (Refer Note 29) 222,73.81 184,08.73 327,97.88 274,62.27 Note 29 : Movement in provisions ( ` in lakhs) Pricing matters Refer note (i) Long term Incentive Plan Refer note (ii) Divestment / Restructuring Refer note (i) Expected Sales Returns Refer note (iii) Associated cost to Impairment and cost to sell Severance pay Provision for Zinetac (Other costs) Refer note (iv) Others Refer note (v) Balance as at April 1, 2021 122,70.82 13,04.42 1,92.96 72,87.28 16,41.00 19,38.39 7,05.00 157,20.84 Add: Provision during the year - 6,54.48 - 42,13.10 - - - 85,70.00 Less: Amounts utilised/reversed during the year - 9,63.18 - 23,16.63 11,41.00 15,72.05 46.47 19,45.40 Balance as at March 31, 2022 122,70.82 9,95.72 1,92.96 91,83.75 5,00.00 3,66.34 6,58.53 223,45.44 Balance as at April 1, 2020 122,70.82 10,06.07 1,92.96 52,33.04 64,10.87 31,51.74 18,91.00 116,11.96 Add: Provision during the year - 12,85.06 - 75,54.27 - - - 29,23.00 Add: Restated as per IND AS 103 (Refer Note 57) - - - - - - - 20,44.65 Less: Amounts utilised/reversed during the year - 9,86.71 - 55,00.03 47,69.87 12,13.35 11,86.00 8,58.77 Balance as at March 31, 2021 122,70.82 13,04.42 1,92.96 72,87.28 16,41.00 19,38.39 7,05.00 157,20.84 Notes: (i) Pricing matters and Divestment/ Restructuring : Provision for pricing matters and Divestment/ Restructuring made for probable liabilities/ claims arising out of pending dispute, litigations/ commercial transactions with statutory authorities/ third parties. The outflow with regard to the said matters depends on the exhaustion of remedies available to the Company under the law and hence the Company is not able to reasonably ascertain the timing of the outflow. Also refer notes 43. (ii) Long term incentive plan: Refer note 54. (iii) Expected sales returns: This represents provision made for expected sales returns. Revenue is adjusted for the expected value of returns.